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PRINT THIS PAGE Gresham to back £82.5m MBO of Johnson Clothing11/04/2008. Source: AltAssets. 
UK mid-market buy-out firm Gresham has agreed to back the £82.5m MBO of East Midlands, UK-headquartered corporatewear provider Johnson Clothing Limited from Johnson Service Group. Once the deal is completed, JCL will be renamed Dimensions Clothing.
JCL is made up of five companies: Dimensions, DCC, Boyd Cooper, Wessex Textiles and Yaffy. Gresham acquired Dimensions in December 2000 and sold it to JSG in July 2004. JSG then made a number of acquisitions to create JCL.
Simon Inchley, Gresham's Birmingham and Manchester-based partner who led the deal for the firm, said, 'We are delighted to be backing Simon Hughes and his team for the second time. This is the market-leading business in the supply of managed corporate clothing and is one hundred per cent customer focused. Our investment, together with the support of our Midlands-based banking club, will facilitate growth whilst maintaining the high standards of service demanded by JCL's customer base.'
Gresham specialises in deals typically valued up to £100m and has expertise in the business and support services, consumer, financial services, healthcare/pharmaceuticals and industrial products sectors.
The firm has offices in London, Birmingham and Manchester.
Copyright © 2008 AltAssets
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